AWB Limited - 2003 Annual Report

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contents Section Page 2003 at a Glance 2 Who We Are 4 Chairman’s and Managing Director’s Report 6 Pool Management Services 10 Finance and Risk Management 14 Grain Acquisition and Trading 18 Supply Chain and Other Investments 20 Grain Technology 24 Landmark 26 Our People and Systems 28 Our Environment 30 Our Grower Community 31 Executive Profiles 32 Corporate Governance 34 Financial Statements 44 Shareholder Communication 91 Major ASX Announcements 92 Glossary 92
During the past year, Australia has been through one of its most severe droughts, one that was for some parts of the country, the worst in 100 years. These conditions have had a significant impact on rural and regional Australia, and in turn, on the financial performance of AWB Limited (AWB). In 2002, we reaffirmed our commitment to a strategy of growth and diversification, with a focus on being a leading global grains marketer and asset manager. In 2003, we delivered on this, most noticeably, with the acquisition of Landmark, which has made AWB Australia’s leading agribusiness. For AWB, 2003 has been challenging, but the company has continued to mature and we are now better positioned than ever to deliver value to both farmers and shareholders. Andrew Lindberg Managing Director
Page 1: Annual Report 2003 imagine the futu
Page 5 and 6: FINANCIAL PERFORMANCE SUMMARY Droug
Page 7 and 8: There are six key business streams
Page 9 and 10: chairman’s and managing director
Page 11 and 12: As a gesture of AWB's appreciation
Page 13 and 14: pool management services AWB Nation
Page 15 and 16: For the 2001/02 Pool, AWB managed a
Page 17 and 18: finance and risk management Harvest
Page 19 and 20: Through “ring fencing”, AWB was
Page 21 and 22: grain acquisition and trading Grain
Page 23 and 24: supply chain and other investments
Page 25 and 26: Children of AWB employees enjoying
Page 27 and 28: grain technology AWB Grain Technolo
Page 29 and 30: landmark Overview Landmark is Austr
Page 31 and 32: our people and systems People AWB e
Page 33 and 34: AWB has committed itself to a thoro
Page 35 and 36: Charles Stott Group General Manager
Page 37 and 38: the chairman, Mr Robert Barry and M
Page 39 and 40: Identification and Management of Si
Page 41 and 42: Birchip in Victoria and a former Vi
Page 43 and 44: Brendan Stewart Chairman, Non-execu
Page 45 and 46: international presence 43
Page 47 and 48: INNOVATION FOCUS TO DELIVER NEW OPP
Page 49 and 50: LIKELY DEVELOPMENTS AND EXPECTED RE
Page 51 and 52: DIRECTORS' MEETINGS (continued) Dir
Page 53 and 54:
STATEMENT OF FINANCIAL POSITION AS
Page 55 and 56:
NOTES TO AND FORMING PART OF THE FI
Page 57 and 58:
(h) Derivatives (continued) transac
Page 59 and 60:
2. REVENUE FROM ORDINARY ACTIVITIES
Page 61 and 62:
4. TAXATION Consolidated AWB Limite
Page 63 and 64:
8. OTHER ASSETS Consolidated AWB Li
Page 65 and 66:
11. OTHER FINANCIAL ASSETS Consolid
Page 67 and 68:
13. PROPERTY, PLANT AND EQUIPMENT (
Page 69 and 70:
16. PROVISIONS Consolidated AWB Lim
Page 71 and 72:
20. OUTSIDE EQUITY INTERESTS Consol
Page 73 and 74:
24. REMUNERATION OF DIRECTORS Conso
Page 75 and 76:
27. RELATED PARTY DISCLOSURES (cont
Page 77 and 78:
28. SEGMENT INFORMATION (continued)
Page 79 and 80:
31. EMPLOYEE BENEFITS AND SUPERANNU
Page 81 and 82:
32. FINANCIAL INSTRUMENTS (continue
Page 83 and 84:
32. FINANCIAL INSTRUMENTS (continue
Page 85 and 86:
33. DEED OF CROSS GUARANTEE Pursuan
Page 87 and 88:
34. CONTROLLED ENTITIES (continued)
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35. EARNINGS PER SHARE Consolidated
Page 91 and 92:
INDEPENDENT AUDIT REPORT TO MEMBERS
Page 93 and 94:
FINANCIAL CALENDAR - 2004 Annual Ge
Page 95 and 96:
AWB GROUP LOCATIONS ROYCE DESIGN AW
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AWB Limited - 2003 Annual Report

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